FleetCor Acquires UK Fuel Card Company for approximately $304 Million

FleetCor Technologies, Inc., a leading global provider of fuel cards and specialized payment products to businesses based in Atlanta, announced that it has acquired AllStar Business Solutions Limited (“AllStar”) from The Arval Group (“Arval”) for £194 million (approximately $304 million).

AllStar’s fuel cards permit fleet operators to provide their company drivers with a payment card to fuel their vehicles securely without having the need to pay with cash or personal credit cards. At present, AllStar has approximately 40 thousand customers and about one million cardholders, a large portion of whom are small and medium sized enterprises. AllStar serves both business clients directly, and strategic partners like Arval leasing who in turn serve their customers. AllStar fuel cards are accepted by all U.K. major fuel brands, including the leading supermarket chains.

In addition, Arval and FleetCor have entered into a strategic relationship where Arval will provide fuel card payment solutions to its customers through AllStar.

“We are pleased to announce the acquisition of AllStar, which is consistent with our global acquisition strategy of identifying attractive assets with performance upside. We believe that we can help AllStar realize its full potential, as we have in previous acquisitions, by bringing our best practices, technology and commitment to this portfolio,” said Ron Clarke, chairman and chief executive officer, FleetCor Technologies, Inc.

“We believe that this sale is a positive move for AllStar employees, partners and customers. FleetCor brings global fuel card expertise, best practices and experience to AllStar, which, we believe, will enable us to improve the products and services available to its customers,” said Andrew Blazye, chief executive officer, FleetCor Europe.

FleetCor financed the all cash acquisition with available cash and financing through its existing credit facilities. FleetCor expects the acquisition to be accretive to revenues and earnings in 2012. The Agreement for the sale and purchase of the entire issued share capital of AllStar Business Solutions Limited was entered into and consummated December 13, 2011 between FleetCor Technologies, Inc., its wholly-owned subsidiary, FleetCor UK Acquisition Limited, and Arval UK Group Limited, as described in FleetCor’s Current Report on Form 8-K filed with the SEC today. The U.K. Office of Fair Trading is reviewing this acquisition and FleetCor will comply with customary undertakings during the review process.



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